Investing.com - Financial Markets Worldwide
💙 🔷 Not impressed by Big Tech in Q3? Explore these Blue Chip Bargains insteadExplore for free

UPDATE 1-Saks-owner Hudson's Bay posts 15.2 pct rise in sales

Published 2015-09-10, 07:46 a/m
UPDATE 1-Saks-owner Hudson's Bay posts 15.2 pct rise in sales
TGT
-
HBC
-

(Adds details from statement)
Sept 10 (Reuters) - Hudson's Bay Co HBC.TO reported a 15.2
percent rise in quarterly sales as the department store operator
gained from its strengthening online presence.
The company, which has also been opening more Saks OFF 5TH
stores in the United States, said total same-store sales rose
4.2 percent in the second quarter.
Hudson's Bay, which had gained from Target Corp (NYSE:TGT)'s TGT.N
exit from Canada in the first quarter, said on Thursday that
overall online sales jumped 30 percent in the quarter ended
Aug.1.
Same-store sales at Saks OFF 5TH rose 12.7 percent, while
same-store sales at its luxury chain, Saks Fifth Avenue, rose
only 0.1 percent.
Earlier in June, Hudson's Bay bought Germany's department
store chain, Kaufhof, from Metro for 2.8 billion euros ($3.13
billion) to help expand into Europe and has said it aims to
expand Kaufhof's e-commerce business "aggressively".

The company reported a net profit of C$67 million ($51
million), or 33 Canadian cents in the second quarter, compared
with a net loss of C$36 million, or 23 Canadian cents per share,
a year earlier.
Sales rose to C$2.04 billion from C$1.77 billion a year
earlier.
($1 = 1.3228 Canadian dollars)
($1 = 0.8939 euros)

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.